HomeMy WebLinkAbout6.g. Auditors' Recommendation _ .. _ _..w.s: �-- -�_--_._._-�. ,,,.,,..,
�L���►'1VIAN
NH�'H�N�CJyAY�'
� E R T I F I � b P U S l I C A C C O � N T A N T 5
Mr. Do�n Dnr�.ing �
Finan�e I71.���tar �
City of RoaemQunt � �
I�c�eemc�unt, Minneaota
L�e�r I7�n:
During the most recent l�gis�.ative �ee$ion. �h��� was
fri�r�+�se�l attentian an City'� fund bale�nc�e �,nr� �h,��,�,
Ferception ae "e�ceesive. " The pr�.m�ry fo�us was c�n fund
balanc�a th�t �re unreserv�d and unde�sigr�ated, whfch �he
c�*Y of Rosemount haa in tha emc�unt of $1, 191, 181 at
L�ecembex �1, 1989.
Because theae funds are needed �o anable the City to meet
ca�h flaw z�eede ���tween yee�r-end and �rot�er�y tex/e�ste �sid
��Ymen�� re�Q�v�d 3n Julv, we su�geat that the City Council
�ieai� to d��ignate an aniount r�eaded for wo�k�ng capital
�'uYF�BeB. This should be c�ane to be r�f�.�cted on the 1989
�eneral purpose financial �te►�emen�e. I caleul�t�d a
possible e�mount ae folloc��e:
Total 1989 Gener.al. Fund Expendituree $ �,57g,��1
M�.altipiied by 75� (Ps�eentage of
Budget that is Prop�rty T�ce�/State
Aid) �nd I/2 year (LenBth af Time ��' S�
Urttil Amau�,te are Received}
An�ounti b��ignated fQr Wo�kia�g C�p�.tnX � 965.OQ0
F3ease ].et m� know if you, Steve, az� the City Cvuncil
heve anY que�tlan�x.
Sincerely�
Rager A. Sohanues, C.P.A.
G� �.��
�oec ermann, He3nen & Mayer
Cer�ifi�d Public Acevun�+�r�t�
Eden Prairie, M�,nnesotn
��Y 15, 1990